Cairn Energy (CNE) Price Target Cut to GBX 157

Cairn Energy (LON:CNE) had its price objective dropped by Jefferies Financial Group from GBX 165 ($2.16) to GBX 157 ($2.05) in a report issued on Friday. The firm presently has a “hold” rating on the oil and gas development company’s stock. Jefferies Financial Group’s price target would indicate a potential downside of 10.85% from the company’s current price.

Several other research analysts also recently issued reports on CNE. Peel Hunt reaffirmed an “add” rating on shares of Cairn Energy in a research note on Thursday, November 15th. JPMorgan Chase & Co. cut their price target on Cairn Energy from GBX 306 ($4.00) to GBX 271 ($3.54) and set an “overweight” rating for the company in a research note on Tuesday, November 20th. BNP Paribas cut their price target on Cairn Energy from GBX 290 ($3.79) to GBX 190 ($2.48) and set a “neutral” rating for the company in a research note on Monday, December 10th. UBS Group reaffirmed a “buy” rating and set a GBX 280 ($3.66) price target (down previously from GBX 300 ($3.92)) on shares of Cairn Energy in a research note on Tuesday, December 11th. Finally, Barclays reaffirmed an “overweight” rating on shares of Cairn Energy in a research note on Tuesday, December 18th. Six research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of GBX 232.78 ($3.04).

LON:CNE opened at GBX 176.10 ($2.30) on Friday. The firm has a market cap of $1.02 billion and a PE ratio of -3.31. The company has a debt-to-equity ratio of 14.95, a current ratio of 2.75 and a quick ratio of 1.29. Cairn Energy has a 52-week low of GBX 138 ($1.80) and a 52-week high of GBX 270.40 ($3.53).

Cairn Energy Company Profile

Cairn Energy PLC operates as an oil and gas exploration and production company. It holds a portfolio of exploration, development, and production assets in the United Kingdom; Norway; Mexico; and the Atlantic Margin, including Senegal and the Republic of Ireland. The company was incorporated in 2002 and is headquartered in Edinburgh, the United Kingdom.

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Analyst Recommendations for Cairn Energy (LON:CNE)

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